GlaxoSmithKline Pharmaceuticals (GSK), a Rs.1870 crore leading MNC from Mumbai, has notched up satisfactory performance during the third quarter ended September 2010. The net profit increased by 11.9 per cent to Rs.157.81 crore from Rs.141.08 crore and its net sales moved up by 13.7 per cent to Rs.581.98 crore from Rs.511.81 crore. The earning per share worked out to Rs.18.7 for the quarter as against Rs.16.7 in the last period. It received approval for Revolade, a drug for low platelet counts and Votrient, for metastatic renal cell carcinoma.
Dr Hasit B Joshipura, managing director, said, “The pharmaceutical business registered all round growth with the mass markets, mass specialities and specialities businesses all showing strong market competitive growth. The company gained market share during the quarter. Vaccines registered a handsome growth as well. New products launched in the last two years continue to accelerate growth.”
For the first nine months ended September 2010, GSK's net profit improved by 9.6 per cent to Rs.447.99 crore from Rs.408.70 crore in the corresponding half of last year. The net sales moved up 13.7 per cent to Rs.1621 crore from Rs.1426 crore.
GSK's net sales and net profit for the full year ended December 2009 reached at Rs.1871 crore and Rs.512.29 crore respectively.